|
Report Date : |
13.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
HANA ENGINEERING |
|
|
|
|
Registered Office : |
298-3, Gwarim-dong, Siheung-si,
Gyeonggi-do, Korea 429-120 |
|
|
|
|
Country : |
South Korea |
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Date of Incorporation : |
2000 |
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|
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|
Legal Form : |
Sole Proprietorship |
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|
|
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Line of Business : |
Manufacture of Industrial Machinery |
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|
|
|
No. of Employees : |
4 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Small Concern |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
South Korea |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
south korea - ECONOMIC OVERVIEW
South Korea over the past four decades has demonstrated
incredible growth and global integration to become a high-tech industrialized
economy. In the 1960s, GDP per capita was comparable with levels in the poorer
countries of Africa and Asia. In 2004, South Korea joined the trillion dollar
club of world economies, and is currently the world''s 12th largest economy.
Initially, a system of close government and business ties, including directed
credit and import restrictions, made this success possible. The government
promoted the import of raw materials and technology at the expense of consumer
goods, and encouraged savings and investment over consumption. The Asian
financial crisis of 1997-98 exposed longstanding weaknesses in South Korea''s
development model including high debt/equity ratios and massive short-term
foreign borrowing. GDP plunged by 6.9% in 1998, and then recovered by 9% in
1999-2000. Korea adopted numerous economic reforms following the crisis, including
greater openness to foreign investment and imports. Growth moderated to about
4% annually between 2003 and 2007. Korea''s export focused economy was hit hard
by the 2008 global economic downturn, but quickly rebounded in subsequent
years, reaching 6.3% growth in 2010. The US-South Korea Free Trade Agreement
was ratified by both governments in 2011 and went into effect in March 2012.
Throughout 2012 the economy experienced sluggish growth because of market
slowdowns in the United States, China, and the Eurozone. The incoming
administration in 2013, following the December 2012 presidential election, is
likely to face the challenges of balancing heavy reliance on exports with
developing domestic-oriented sectors, such as services. The South Korean
economy''s long term challenges include a rapidly aging population, inflexible
labor market, and heavy reliance on exports - which comprise half of GDP.
|
Source
: CIA |
Basic
|
Company Name |
HANA ENGINEERING |
|
Registered Address |
298-3, Gwarim-dong, Siheung-si,
Gyeonggi-do, Korea |
|
Zip Code |
429-120 |
|
Tel |
+82-2-2684-6782 |
|
Fax |
+82-2-2685-6782 |
|
Trading Address |
298-3, Gwarim-dong, Siheung-si,
Gyeonggi-do, Korea |
|
Tel |
+82-2-2684-6782 |
|
Fax |
+82-2-2685-6782 |
|
Type |
Export |
|
Industry |
Manufacture of Industrial Machinery |
|
Main Business |
Extrusion Stretching Machine |
|
Established (mm/dd/yyyy) |
2000 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Industrial process machinery and equipment and supplies(23150000) |
|
Name |
Choi Byung-Woo |
|
Title |
Owner |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
Not Applicable to the Sole Proprietorship |
|
Employees |
4 |
|
Formation |
Sole Proprietorship |
|
Bank Details |
N/A |
|
Corporate Registered No. |
Not Applicable to the Sole Proprietorship |
|
Business Registered No. |
N/A. (The numbers are kept by the National
Tax Service confidentially.) Because the subject’s full Business
Registered No., for checking through the National Tax Service whether the
subject is still existing or not, is not available, so we cannot confirm if
the subject exist or not legally.) |
|
Permit & Licenses |
N/A |
|
Shareholder Position |
N/A |
|
Company History |
2000, but the exact date is not available. |
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Owner |
Mr. |
Choi Byung-Woo |
Male |
Korean |
2000 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
|
|
|
|
|
2011 |
|
|
|
|
2010 |
|
|
|
|
2009 |
|
|
|
|
2008 |
|
|
|
|
2007 |
|
|
|
|
2006 |
|
|
|
|
2005 |
|
|
|
|
2004 |
|
|
|
|
2003 |
|
|
|
The financials are not available, and the
Subject Company does not have any obligations to release its financials to the
public.
|
Authorized Capital(KRW) |
Not Applicable to the Sole Proprietorship |
|
Paid-Up Capital(KRW) |
Not Applicable to the Sole Proprietorship |
|
Total Issued Shares |
Not Applicable to the Sole Proprietorship |
|
Main Products & Services |
Extrusion Stretching Machine |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Sales/ Unit :Mil KRW |
2012 |
2011 |
2010 |
|
Export |
|
|
|
|
Domestic |
|
|
|
|
Total |
|
|
|
The Subject exports to South East Asian
Countries.
Not Available.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.27 |
|
|
1 |
Rs.91.15 |
|
Euro |
1 |
Rs.77.50 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.